Airbus postpones restructuring announcement

Airbus said Monday that its long-awaited restructuring plan, designed to make up for costly production setbacks, has itself been delayed.

The European aircraft maker called off a works council meeting and news conference at which the “Power8” turnaround strategy was to have been unveiled Tuesday, after French and German shareholders of parent company EADS failed to agree on where to build the A350 XWB — a planned rival to Boeing Co.’s mid-sized 787.

A European Aeronautic Defence and Space Co. board meeting ended late Sunday without agreement on dividing the industrial workload for the A350 XWB, the Franco-German defense group said in statement.